Today we continue our three part blog series explaining the financial statements that your bookkeeper or accountant present you with at the end of the month or quarter. We'll be going over the income statement today, which is also called the profit and loss statement, statement of operations or statement of income.
Read MoreAt the end of the month, or quarter depending on how you have it set up with your bookkeeper, you receive the three financial statements that are supposed to explain to you how your practice is doing financially, the Balance Sheet, Income Statement and Statement of Cash Flows. Now while these statements can be confusing, if explained correctly they can really help you understand where your practice stands, where it is succeeding and what areas need work.
Read MoreThe first step when taking on the task of managing the bookkeeping for your practice is deciding what accounting software is the right fit for your business. There are so many different options out there and it can be daunting trying to figure out which software best meets your needs. Today I’m going to go over three different accounting software programs, how they compare and which one might be the right fit for you. The three programs I’ll be going over are Quickbooks Online, Wave and Xero. All three are Cloud based and use encryption software similar to that used in banking institutions, making them very secure.
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